However, I had not seriously began to study REI before I purchased my first short sale last November.

In short: the growth of existing property prices seem to be slowing down, however there is a housing crisis and they need to build around 3mil homes by 2020, therefor land banking seems to be the way to go!

We have been surprised at the market, never having dealt with short sales or bank owned properties before.

I've tried it both ways - spacing them out long (4-6 weeks) and short (1-2 weeks).

It's a matter of enduring short-term economic pain versus long term pain.

And yeah, I hope to learn a lot through the forums.Currently i'm reading up on foreclosures and short sales and anything in that area.

I've been in the market for a Boise-area short term lease (month-to-month, <1yr) and dropped by Faith Landing (a.k.a. your "Trada Caldwell", I'm assuming) this afternoon (15th).

I know a newbie with good financial backing who bought a large short sale in October.

This is called a short sale...why not just write an offer for 10,000.00 less at the very beginning and try to negotiate that deal with their bank.

Short sales are filled with too much emotion and paperwork.Wholesaling, I would liken this too exept I dont have to drive around town looking for properties, just look at what banks have to offer.I really dont want to be bothered with Renting properties , although I do have it in my plan to hold on to a acquire a couple LO or sub2 for long term.To get started here in REO I planned to get a private money loan, last choice is hard money.